Heading into US session, CHF and JPY are notably higher against others. Commodity currencies are the weakest, together with EUR.
The surge in USD/CAD earlier in European session first caught out attention. As mentioned earlier, it’s on course for 1.3124 resistance.
Selling of AUD and EUR came in later. AUD/USD traders should have finally made up them mind to push the pair through 0.7500 key support level. Such development should confirm medium term reversal in the pair and should pave the way to 0.7328 support next.
Also, the steep fall in EUR/CHF suggests that it’s finally being rejected by 1.2 key handle. Break of 1.1888 support will confirm near term reversal. And deeper pull back should be seen to 38.2% retracement of 1.1445 to 1.2004 at 1.1790 next.
